Cape Town, one of Africa’s most popular tourist destinations, is now also one of its hottest tech environments, aided by initiatives such as French Tech’s incubator in Century City.
Known as the “digital gateway to Africa”, the Western Cape is home to four top universities and Woodstock, in particular, is the area to watch.
It’s quickly becoming a well-known location of regeneration in Cape Town for the creative industries.
Cape Town is ranked in 30th place and was the only city on the continent to make the list of Savills Tech Cities index.
Savills Tech Cities index measures 30 cities from around the world against 100 individual metrics, ranging from the volume of inward venture capital investment through to the cost of a flat white coffee, to establish which cities are the most successful homes for tech and start-up companies.
Savills Tech Cities are important centres for tech in their region and VC investment hotspots. Vibrant cities in which to live and work, they are magnets for talent. The Savills Tech Cities index measures what makes them successful.
Tech Cities are outperforming other global centres. GDP across the 30 Tech Cities is forecast to rise by 36% in the next decade, against a rate of 19% across other developed cities.
New York has emerged as the premier Tech City in this year’s index, overtaking San Francisco. Access to a deep talent pool and the city’s reputation as a global centre of commerce makes New York the global leader.
Chinese Tech Cities have risen fast and now account for a higher share of VC investment than their US counterparts. Beijing recorded an average $34 billion of VC p.a. in the last three years, volumes higher even than New York and San Francisco.
Chinese cities have also emerged as leaders in shared mobility services. Our overall mobility ranking puts London first, however, thanks to transport innovations and an urban form conducive to cycling and walking.